REG - Predator O&G Hldgs - Partial return of shares to Paul Griffiths

Predator Oil & Gas HoldingsAnnouncement

10/11/2022 07:00

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RNS Number : 9049F  Predator Oil & Gas Holdings PLC  10 November 2022

FOR IMMEDIATE RELEASE

 10 November 2022

 

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil
& Gas

LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

 

Further issue of 10,000,00 new Ordinary Shares

 

Partial return of shares to Paul Griffiths

As announced on 17 August 2022 as part of the Company's placing to raise £3.3
million (the Placing), when the Company has the ability to issue further
shares, the Company intends to issue Paul Griffiths 15,000,000 new Ordinary
Shares and take all necessary steps in order to put Mr Griffiths back into the
position that existed, in terms of his aggregate shareholding in the Company,
had he not made the transfer of 15,000,000 of his Ordinary Shares in order to
settle the Placing.

The Company now has such ability and accordingly is pleased to announce that
it intends to issue 10,000,000 new Ordinary Shares (the "Issue Shares") of no
par value in the Company to Paul Griffiths (the "Further Issue") in order to
part fulfil the Company's obligation to return 15,000,000 Ordinary Shares to
Paul Griffiths.

The Further Issue utilises most of the Company's existing headroom shares
under the Financial Conduct Authority restrictions for companies on the
Official List (standard listing segment) of the London Stock Exchange's main
market for list securities.

Novum Securities are acting as joint broker to the Company.

Completion of the Further Issue

Completion of the Further Issues is conditional on, inter alia:-

the Issue Shares being admitted to listing on the Official List (standard
listing segment) and to trading on the London Stock Exchange's main market for
listed securities ("Admission") on or around 15 November 2022 (or such later
date as may be agreed by the Company and Novum Securities).

Admission, Settlement and Dealings in Issue Shares

Applications will be made to the FCA and to the Main Market of the London
Stock Exchange for Admission in respect of all the Issue Shares proposed to be
issued on completion of the Further Issue. It is expected that Admission will
become effective, and that dealings in the Issue Shares are expected to
commence, at 8.00 a.m. on or around 15 November 2022.

The rights attaching to the Issue Shares will be uniform in all respects and
all of the Issue Shares will rank pari passu, and form a single class for all
purposes with, the existing issued shares of no par value in the Company.

Following the Further Issue, the enlarged Share Capital will be
365,598,217  ordinary shares of no par value.

Directors' Holdings

Following the issue of the Ordinary Shares as described above, and inclusive
of shares and options already held by Directors, the  positions held by the
Directors is as follows:

 

 DIRECTOR        TOTAL SHARES      OPTIONS       OPTIONS             OPTIONS

                                   18 May 2018   27 October 2020     31 January 2022
 Paul Griffiths  40,085,793*       4,005,486     3,850,000           Nil
 Lonny                555,600      Nil           Nil                 7,855,486

 Baumgardner
 Alistar Jury    Nil               Nil           Nil                 Nil
 Carl Kindinger  1,370,577         Nil           Nil                 Nil

 

 DIRECTOR           OPTIONS            OPTIONS

                    5 July 2022        9 November 2022
 Paul Griffiths     Nil             7,500,000
 Lonny              Nil             7,500,000

 Baumgardner
 Alistar Jury       2,000,000       Nil
 Carl Kindinger     Nil             2,000,000

 

*

5 million shares loaned to the Company to complete a Placing announced on 17
August 2022  are to be returned to Paul Griffiths by the Company when the
Company has the ability to issue further shares.

 

Details of the 2018 and 2020 option awards may be found in the Company's
annual report.

Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being
the closing mid-market price on 4 July 2022, and will vest after 6 months.

Options issued on 9 November 2022 to Carl Kindinger are exercisable at 7.75
pence per share, being the closing mid-market price on 8 November 2022 and
will vest after 6 months or upon the release of a Company RNS with the MOU-2
test results - whichever occurs first.

Options issued on 9 November 2022 to Paul Griffiths and Lonny Baumgardner are
exercisable at 10.0 pence per share and will vest after 6 months or upon the
release of a Company RNS with the MOU-2 test results - whichever occurs first.

Total Options and Warrants on issue

The total options and warrants outstanding in the Company are as follows:

 

                    OPTIONS         OPTIONS             WARRANTS(³)         OPTIONS               OPTIONS

                    18 May 2018¹    27 October 2020²                    31 January 2022(4)        5 July 2022⁵
 Directors          4,005,886       7,150,000           Nil             7,855,486                 2,000,000
 Previous director                  3,300,000           Nil             1,000,000                 2,000,000
 Advisers           Nil             Nil                 10,264,468      Nil

 and others

 

                        OPTIONS

                        9 November 2022⁶
 Directors              17,000,000
 Previous director
 Advisers           Nil

 and others

 

(1)  18/5/18 options are exercisable at 2.8 pence per share

(2)  27/10/20 options are exercisable at 5 pence per share

(3)  Warrants  include outstanding warrants issued to Company advisers
at

an exercise price of 2.8 pence per share (160,718 on 24 May 2018),    12
pence per share (2,000,000 on 15 February 2019), 4 pence per  share
(2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March
2021), 15 pence per share (600,000 on 18 June 2021), 9 pence per share
(690,000 on 28 March 2022) and 5.5 pence per share (3,600,000 on 23 August
2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be
found in the Company's 2021 Annual Report and Financial Statements.

 

(4) 8,855,486 options are exercisable at 5.66 pence per share.

(5) 4,000,000 options are exercisable at 8.125 pence per share.

(6) 15,000,000 options are exercisable at 10 pence per share

       2,000,000 options are exercisable  at  xxx  pence per share

 

If all options and warrants were to become exercisable and then exercised in
accordance with their terms, gross proceeds received by the Company would
be £3,905,636.

 
 

For further information visit www.predatoroilandgas.com
(http://www.predatoroilandgas.com)

 

Follow the Company on twitter @PredatorOilGas.

 

This announcement contains inside information for the purposes of Article 7 of
the Regulation (EU) No 596/2014 on market abuse

 

For more information please visit the Company's website
at www.predatoroilandgas.com (http://www.predatoroilandgas.com/) :

 

 

Enquiries:

 Predator Oil & Gas Holdings Plc                                 Tel: +44 (0) 1534 834 600

 Paul Griffiths               Executive Chairman                 Info@predatoroilandgas.com (mailto:Info@predatoroilandgas.com)

 Lonny Baumgardner   Managing Director

 Novum Securities Limited                                        Tel: +44 (0) 207 399 9425

 Jon Belliss

 David Coffman

                                                                 Tel: +44 (0) 203 137 1902

 Optiva Securities Limited

 Christian Dennis

 Flagstaff Strategic and Investor Communications                 Tel: +44 (0) 207 129 1474

 Tim Thompson                                                    predator@flagstaffcomms.com (mailto:predator@flagstaffcomms.com)

 Mark Edwards

 Fergus Mellon

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary gas in prospects less than 10 kilometres from the
Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up
testing programme is being finalised to coordinate with a further drilling
programme beginning in 2022.

 

Predator is seeking to further develop the remaining oil reserves of
Trinidad's mature onshore oil fields through the application of CO2 EOR
techniques and by sequestrating anthropogenic carbon dioxide to produce
"greener" oil.

 

In addition, Predator also owns and operates exploration and appraisal assets
in licensing options offshore Ireland, for which successor authorisations have
been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on
the Atlantic Margin and east of the decommissioned Kinsale gas field in the
Celtic Sea.

 

Predator has developed a Floating Storage and Regasification Project ("FSRUP")
for the import of LNG and its regassification for Ireland and is also
developing gas storage concepts to address security of gas supply and
volatility in gas prices during times of peak gas demand.

 

The Company has a highly experienced management team with a proven track
record in operations in the oil and gas industry.

 

 

 

 

 

 

 

 

 

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